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Bengal Chemicals: On The Way To Mini Ratna
BUSINESS ECONOMICS
|October 16 - 31, 2018
Bengal Chemicals has started dreaming big. Riding on its recent successful turnaround after nearly seven decades of loss, the century-old pharmaceutical company is aiming for Mini Ratna status in the next 5 years.
In order to achieve that milestone, the energetic Managing Director and Director Finance Pilla Marri Chandraiah has charted a roadmap for Bengal Chemicals and Pharmaceuticals Ltd (BCPL), a central government undertaking, for the next five years, aiming at a turnover of 500 crore, a clear more than six times jump from the present 78 crore business, with net profit aiming 100 crore mark from the present 10 crore.
Founded by Achariya Prafulla Chandra Ray as Bengal Chemical and Pharmaceutical works in his two-story north Kolkata residence way back in 1901, BCPL recorded its last profit in the early 50s of the twentieth century and has been running in losses since then. Due to continuous losses and persistent labour problems, it was nationalised in the year 1980.
2014: commencement of turnaround
This story is from the October 16 - 31, 2018 edition of BUSINESS ECONOMICS.
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